Documentation For Tax Season

For some, it may be the most wonderful time of the year- Tax Season! Whether or not this is true for your situation, filing taxes is a civic duty, therefore there is no way out. Here are some of the most common forms of documentation you will need in order to file your taxes. Happy filing!

Personal and Identification

First and foremost, the most important thing you’ll need to have alongside you when filing your taxes is your social security number. This is a form of identification that is used to identify you as a taxpayer, and without it, you will not be able to file your taxes. If you have misplaced your social security number, be sure to contact your social security office. Bringing a copy of last year’s taxes may be helpful to you as well, especially if you’re filing on your own. This will help you answer any simple questions that you may have during the filing process. If you’re expecting direct deposit, bring along your bank account and routing information for an easy way to receive your processed return.

Earnings

A W-2 Form is required to file your taxes as this form shows how much money you’ve earned throughout the year. As long as you bring this form along, your taxes will be simple to file.

Investments

The tax filing process begins to get tricky after you learn where you’ve spent your money throughout the year. If you have any type of investments, such as property, stocks/bonds, or have done any type of freelance work, you should receive a 1099 form in the mail. This form will be required for the tax filing process, as you will enter how much of your earning from your W-2 was paid into taxes for your investments.

Education

If you are recently attending a higher education institution, you will receive a 1098-T form. This from is used to show how much you paid to higher education which will be written off when you file your taxes.

Interest Calculation

A 1098-E form will be sent to you if you have a mortgage, private loan, or debt (such as educational loans).

If you receive any additional forms or records in the mail from the IRS, you should bring them along. Your account will be able to determine which forms will be needed, but it is always better to be safe than sorry.